Esterified propoxylated glycerin has long been recognized as a substance potentially useful as a reduced calorie substitute for conventional triglyceride fats and oils in food compositions. However, to be fully acceptable for commercial use as a food ingredient, an esterified propoxylated glycerin must meet a number of significant criteria. For example, the esterified propoxylated glycerin should be clear when in liquid form (e.g., an esterified propoxylated glycerin which is normally solid at room temperature should nonetheless be transparent when melted), low in color, odor, contaminants and free fatty acid content, and bland in taste. At the same time, however, any process employed to produce such an esterified propoxylated glycerin must also be relatively efficient and low in cost for the esterified propoxylated glycerin to be competitive with other fat substitutes on the market. Although a number of different ways of producing esterified propoxylated glycerin have been described in the art, there is still a need for improved, streamlined processes capable of producing high quality, food grade esterified propoxylated glycerin at a low cost.